Louisiana lawmakers have more money than they thought to spend on budget priorities after state revenue projections were adjusted upward through June of next year, Louisiana Illuminator reports.
The state’s revenue estimating conference, which comprises lawmakers, a gubernatorial appointee and an economist, adopted a financial forecast that increases the amount of money available to lawmakers for spending by $197 million in the current budget cycle and $88.6 million in the next.
The extra cash is expected to be collected from higher interest earnings on state fund investments as well as larger corporate and severance tax collections.
As Louisiana Illuminator writes, the higher-than-expected revenue collections will make it less likely that the proposed pay cut for teachers included in the budget plan approved by the Louisiana House last month will be enacted.
Further, approximately 2,000 seats in early childhood education that were slated to be cut could also be reduced or restored, according to interviews with legislative leadership.
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